M&A Deal Summary

Crimson Investment Acquires Aqua-Chem

On August 28, 2014, private equity firm Crimson Investment acquired manufacturer Aqua-Chem from Altus Capital Partners and Greyrock Capital Group

Acquisition Highlights
  • This is Crimson Investment’s 1st transaction in the Manufacturing sector.
  • This is Crimson Investment’s 4th transaction in the United States.
  • This is Crimson Investment’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2014-08-28
Target Aqua-Chem
Sector Manufacturing
Buyer(s) Crimson Investment
Sellers(s) Altus Capital Partners
Greyrock Capital Group
Deal Type Secondary Buyout
Advisor(s) BB&T Capital Markets (Financial)

Target

Aqua-Chem

Knoxville, Tennessee, United States
website
Aqua-Chem is a manufacturer of specialized water distillation, purification, desalinization, and filtration systems and provides associated aftermarket parts and services. Aqua-Chem was founded in 1929 and is based in Knoxville, Tennessee.

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Buyer(S) 1

Buyer

Crimson Investment

San Francisco, California, United States

website

Category Private Equity Firm
Founded 1996
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Crimson is a private equity firm that targets investments in middle-market businesses located in Asia and the US. Prospective companies typically have EBITDA of $5 to $20 million. Specific sectors of interest include life sciences, branded consumer, safety & security, water, and industrials. Crimson was formed in 1996 and has offices in California and Taipei.

DEAL STATS #
Overall 4 of 4
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 4 of 4
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-10 Ameda

Buffalo Grove, Illinois, United States

Ameda is a provider of hospital-grade breast pumps, bottle warmers, milk collection kits, and other premium products for mothers and babies worldwide. Ameda was founded in 1942 and is based in Buffalo Grove, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Milton Industries

Chicago, Illinois, United States

Milton Industries is a provider of highly-engineered tools and accessories for pneumatic applications across a variety of end markets, including vehicle service, industrial MRO, aerospace and defense, and agriculture. Milton Industries was founded in 1943 and is based in Chicago, Illinois.

Sell -

Seller(S) 2

SELLER

Altus Capital Partners

Wilton, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 280M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Altus Capital Partners is a private equity firm focused on acquiring and investing in medium sized North American-based manufacturing companies. Altus looks for businesses with EBITDA of at least $4 million and valued between $25 and $100 million. Typical transaction types include buyouts, recapitalizations, consolidations, and divestitures. Alta Capital was formed in 2003 and has offices in Wilton, Connecticut and Lincolnshire, Illinois.

DEAL STATS #
Overall 7 of 14
Sector (Manufacturing) 1 of 3
Type (Secondary Buyout) 2 of 4
State (Tennessee) 1 of 1
Country (United States) 7 of 14
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-26 Prism Plastics

Chesterfield, Michigan, United States

Prism Plastics, Inc. is a manufacturer of high-precision injection molded plastic components for the automotive, industrial and medical markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-11 GED

Glenwillow, Ohio, United States

GED designs, engineers, and manufactures automation solutions for the North American window and door industry. The Company’s solution offerings include equipment manufacturing, production software, and aftermarket parts and services. GED is based in Glenwillow, Ohio.

Buy -
SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.

DEAL STATS #
Overall 22 of 45
Sector (Manufacturing) 1 of 4
Type (Secondary Buyout) 9 of 18
State (Tennessee) 1 of 1
Country (United States) 22 of 45
Year (2014) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-15 Bock & Clark

Akron, Ohio, United States

Bock & Clark Corp. is a provider of commercial real estate due diligence services. With offices in Ohio, Pennsylvania, Florida, Oklahoma, California, Colorado, and Rhode Island, Bock & Clark serves clients in all 50 states and Canada in the following capacities: ALTA land and title surveys, boundary surveys, topographic surveys, aerial survey zoning reports and letters, and environmental services. Bock & Clark employs experienced professionals to research and prepares each of these products resulting in due diligence efficiency.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-08 Ogle School

Arlington, Texas, United States

Ogle School is a provider of cosmetology and esthetics career education in Texas. It operates eight campuses with superior graduation and job placement outcomes; phenomenal, long-established brand equity; and an exemplary compliance record. Ogle School was founded in 1973 and is based in Arlington, Texas.

Buy -
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